Cullumber company has these comparative balance sheet data:

A company reports the following: Sales    $572,320Average accounts receivable (net)    20,440

At the end of the current year, the entity reported the following financial data: Total Assets                                               1,200,000            Total assets turnover ratio                         1.7x Fixed assets turnover ratio                        2x Current ratio                                              2.5x Days Sales outstanding                             30 days  Inventory turnover ratio                            4x Gross profit margin on sales                     20%  Note: Calcuation is based on a 365-day year. How much should be the accounts receivable balance?

Assume the following sales data for a company: Current year $896,005 Preceding year 607,844 What is the percentage increase in sales from the preceding year to the current year (rounded to one decimal place)? Oa. 47.4% Ob. 15.3% Oc. 32.2% Od. 79.6%

Comparative financial statement data for Flounder Corp. and Blue Spruce Corp., two competitors, appear below. All balance sheet data are as of December 31, 2017.     Flounder Corp.   Blue Spruce Corp.     2017   2017 Net sales   $1,908,000   $657,200 Cost of goods sold   1,245,500   360,400 Operating expenses   299,980   103,880 Interest expense   9,540   4,028 Income tax expense   90,100   38,160 Current assets   444,000   199,036 Plant assets (net)   563,920   148,112 Current liabilities   70,305   35,739 Long-term liabilities   115,010   43,125 Net cash provided by operating activities   146,280   38,160 Capital expenditures   95,400   21,200 Dividends paid on common stock   38,160   15,900 Weighted-average number of shares outstanding   80,000   50,000 (a)Compute the net income and earnings per share for each company for 2017. (Round Earnings per share to 2 decimal places, e.g. $2.78.)     Net Income   Earnings per share Flounder Corp.   $…

Use the following financial statement information from Black Water Industries. BLACK WATER INDUSTRIES Ending Accounts Receivable Year Net Credit Sales 2017 $690,430 $335,250 2018 705,290 364,450 2019 770,500 406,650 A. Compute the accounts receivable turnover ratios for 2018 and 2019. Round your answers to two decimal places. 2018 times 2019 times B. Using the accounts receivable turnover, choose the statement that most closely describes the company's management of its receivables. a. The company's lending policies may be too strict. b. Collection efforts are not aggressive enough. There may be uncollectable receivables affecting the beginning and ending C. balances. d. All of the above statements may be correct. a b d

Accounts Receivable Analysis The following data are taken from the financial statements of Basinger Inc. Terms of all sales are 2/10, n/45. 20Y3 20Y2 20Y1 Accounts receivable, end of year $157,200 $164,000 $171,800 Sales on account 883,300 789,130 a. For 20Y2 and 20Y3, determine (1) the accounts receivable turnover and (2) the number of days' sales in receivables. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume a 365-day year. 20Y3 20Y2 1. Accounts receivable turnover 2. Number of days' sales in receivables days days This can be seen in both the in accounts receivable b. The collection of accounts receivable has turnover and the in the collection period.

1 Condensed financial statements for Games Galore are summarized below: 2 3 Balance Sheet 4 Cash 5 Accounts Receivable, Net 6 Inventory 7 Prepaid Insurance 8 Total Current Assets 9 Property and Equipment, Net 10 Total Assets 11 12 Current Liabilities 13 Long-term Liabilities 14 Total Liabilities 15 Contributed Capital 16 Retained Earnings 17 Total Stockholders' Equity 18 Total Liabilities and Stockholders' Equity 19 20 Income Statement 21 Net Sales (all on account) 22 Cost of Goods Sold 23 Gross Profit 24 Operating Expenses 25 Income from Operations 26 Interest Expense 27 Income before Income Tax Expense 28 Income Tax Expense 29 Net Income 30 READY Attempt(s) Sheet1 $ $ $ $ B $ 2016 185,000 $ 80,000 104,000 11,900 380,900 514,500 895,400 $ 85,300 284,000 369,300 299,000 227,100 526,100 895,400 $ $ 3,031,000 1,949,000 1,082,000 891,400 $ 190,600 14,500 176,100 47,000 129,100 4 C 2015 143,000 59,000 134,000 5,880 341,880 407,000 748,880 96,800 224,000 320,800 299,000 129,080 428,080…

ABC Company's accounting records reported the followingaccount balances as of December 31, 2028:Inventory ................... $59,000Trademark ................... $16,000Interest revenue ............ $21,000Accounts receivable ......... $44,000Cost of goods sold .......... $30,000Utilities expense ........... $29,000Salaries payable ............ $14,000Accumulated depreciation .... $37,000Land ........................ ?Dividends ................... $ 9,000Notes payable ............... $48,000Common stock ................ ?Rental revenue .............. $35,000Supplies .................... $23,000Income tax expense .......... $18,000Retained earnings ........... $57,000 (at Jan. 1, 2028)Sales revenue ............... $99,000Equipment ................... $74,000Copyright ................... $38,000Accounts payable ............ $41,000Salaries expense ............ $27,000Cash ........................ $19,000Additional information:The total equity at December 31, 2028 was $196,000.Calculate…